Everyone wants the freedom to work and travel, or be a digital nomad. We look at one of the best options – Stock Trading.
Living the global playboy lifestyle is expensive. But you don’t need to be chained to a desk to be making the Money that earns you those wings.
Stock trading is one of the best ways to make big money. With a bit of money, some research and common sense you can be making damn good money from your laptop anywhere in the world.
What Is Stock Trading?
An effective trader will look at the global markets such as the FTSE or Dow Jones and be able to predict which stock is going up (bullish) and what is going down (bearish).
It is, effectively, gambling on which way the price of a particular stock or share is going to go.
For example if you hear that a small company is about to be bought by a bigger company – for example Whatsapp being bought by Facebook – you would buy as many shares in Whatsapp as you can. You’d then hold on to them as they increase in value and later on sell them at a massive profit.
That’s a big trade though and you will need lots of money to get in on that one.
On a more accessible level, you can follow the value of commodities like oil, wheat, gold or even currencies like the Dollar or Euro and buy and sell them at a profit when the market moves.
Currency trading is referred to as Forex (foreign exchange) and is often one of the easiest and safest ways into trading.
How Much Money Can I Make?
The profits can be huge. See films like ‘Wolf of Wall Street’ for a success story (although he went to far in the end).
But it doesn’t have to be sleazy men in suits conning old ladies out of their savings. You can start with a few hundred or thousand of your pocket change and invest in safe stocks until you get the hang of it.
Successful stock traders are on hundreds of thousands of dollars a year. And many of them travel the world staying in awesome beach pads.
How Do I Get In To Being A Stock Trader?
Like anything, you do need to be patient and start at the bottom. If you’re good with spotting patterns or algorithms or you like to take a chance on things then stock trading might be for you.
There are many stock trader sites where you can get started, often with play money while you get the hang of it.
SureTrader gives you a free 100K free play money to experiment. And when you’re ready you can start trading with penny shares and work your way up.
Any Advice For Aspiring Stock Traders?
Read the business dailies like the Financial Times or the business sections of international papers such as City AM (London) or the Wall Street Journal (NYC). These often have clues about what is happening with the financial markets that you can use to your advantage.
Practice with small trades until you are ready to move up to the big leagues.
Learnt the lingo. Bullish, bearish, pips, spread, liquid market… All terms you will get familiar with.
Start today… It will take you time to perfect your trader style and there’s no time like the present to plan your future!